Data issued by the National Statistical Office in Germany (Destat), on Monday, showed that the preliminary reading of the consumer price index within Germany (inflation rate) came negative and below expectations during the month of June.
According to the data, the inflation rate in Germany slowed to 2.2% during June on an annual basis, after the previous reading for April recorded an increase to 2.4%. The reading was also lower than market expectations that indicated a slowdown in inflation in Germany to 2.3%.
At the same time, the core inflation rate in Germany also witnessed an increase during the month of June, as preliminary data showed that it recorded 2.5% on an annual basis, which was also lower than market expectations that indicated it would record 2.6%, after the previous reading had shown a rise in inflation. The basic rate during the month of May reached 2.8%.
On a monthly basis, the data showed that Germany witnessed the index recording 0.1% during June, and market expectations indicated a growth in consumer prices of about 0.2%, after the previous May reading had shown a rise in the monthly consumer price index by 0.1%.
